Napier Port reports strong 2024 earnings growth

Tue, 19 Nov 2024

Napier Port has reported strong earnings growth for the 2024 financial year.

Revenue increased by 15.9% to $141.4 million, driven by volume growth and yield improvements.

The company's result from operating activities also increased by 39.5% to $52m, reflecting its focus on cost management and operating leverage.

Underlying net profit after tax was up 94.6% to $20.7m, while reported net profit after tax increased by 49.7% to $24.8m.

The company attributed its positive performance to the regional recovery and rebound of volumes following Cyclone Gabrielle.

Napier Port declared a final dividend of 6 cents per share, bringing the total dividends for the 2024 financial year to 9 cents per share.

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